The short answer is that it is not that hard. Good Lawyers who provide good advice get repeat business because their clients value their services. My clients pay me for my counsel and work with me because I offer more than document drafting services when I counsel them.
With 25 years of business and legal experience, I am able to guide a client through the process of getting a business started, navigating the difficult situations, permitting and licensing requirements, the practical realities of employment matters and even books and records. Much of what I offer is a road map to success.
As they say on TV, forming an LLC - $250; helping clients make money - PRICELESS!
Repeat business, word of mouth and experience are the key to making a FLAT FEE LEGAL SERVICE profitable.
At The Flat Fee Lawyer, we start with the premise that our clients need assistance thinking through a business plan more than they need assistance completing forms. We charge for the value our clients receive in counsel not for the time spent completing tasks. Our best client is the one who calls when s/he has a question, before it is a problem or lawsuit. We enable that by offering service without fear of the fee for each phone call. Our clients are not charged for phone calls and time, but instead for access to our firm resources. We customize our General Counsel service to meet the client's needs and expectations. We adjust as the Client's business needs change. Check us out to see how we work. www.TheFlatFeeLawyer.com
Friday, August 26, 2011
Sunday, August 21, 2011
The Battle of Legal Fees- Why is a Flat Fee Better for the Client and the Attorney
Since launching my new Flat Fee Lawyer concept, I have been inundated with questions. Lawyers want to know how I make money and warn me that I need to be clear with clients about what is and is not included. Potential clients wonder if the quality of work delivered will be as good as it would be if I charged an hourly rate and whetherthe price is fair. Current clients say Thank you and continue to give me business on a regular basis.
Today, and over the next few weeks, I am going to address the questions some of you have and I invite you to join the conversation through Tweets, email, Facebook and Linked In.
Why It Works For My Clients
I spent most of my career as a lawyer, but also a client. I purchased outside legal services and hired in house lawyers. At times, I worked with young law firm lawyers who did not understand the transaction, and as the client, I had to train them and pay them to learn on my time and nickel. At other times I had the privilege of working with lawyers charging $1,200 per hour and I marveled at how quickly they came to a brillant legal and strategic solution....true elegance. The bottom line is, that like all products and services, when purchasing legal services you should get what you pay for and very often you do.
The problem is in the incentives offered by many firms. At most firms, the more hours a lawyer bills, the better. If a young lawyer is being trained, a mentor and the young lawyer may bill time into the file. For young associates, training is imperative and I willingly train young lawyers and interns. I just do not think my clients should pay my hourly rate plus the associate's hourly rate for training. Even when I need to learn new areas which expand my practice, my client should not pay for my time learning, if there are other lawyers who can perform appropriately and are already trained.
Similarly, in order to pay an associate or partner more money, since there really are a limited number of biilable hours in a year (you can laugh now), the hourly rate is increased. This of course makes sense in that the more experienced the lawyer, the greater the skill, the greater the value delivered. But this is where the model breaks down. If the rate goes up and the team of lawyers in the meeting or working on the project expands, I question whether the client receives additional value.
Flat Fee Billings Are Client Centric Instead of Law Firm Centric
When I set a fee, I do not look at the amount of time it takes to do the work, nor the person or team performing the services (I work with independent contractors rather than employees), but rather the value of the work delivered to the client. I always set a fee that the client can budget, without surprises, and I target a fee consistent with the project. It is not hard to set a fee because I know the type of work I handle and I know both what it takes to do the work right, and what it is worth to the client to have the right work delivered. I also pride myself on setting a time for completion of the work and delivering on time every time.
When a new client contacts me, I am very clear about the type of work I do. For instance, I was asked to write an appeal last week. I am not a litigator and I would not take the project. The client was dissappointed, but after 25 years with a preeminent (AV) rating from Martindale-Hubbell, I am not about to venture into unchartered territory. I gladly referred her to another attorney.
To conclude this section, my clients are happy because they do not wonder what the ultimate fee will be and they are confident that this AV lawyer is committed to delivering the highest quality work.
More to come on the questions lawyers ask..... How do I make money.
Today, and over the next few weeks, I am going to address the questions some of you have and I invite you to join the conversation through Tweets, email, Facebook and Linked In.
Why It Works For My Clients
I spent most of my career as a lawyer, but also a client. I purchased outside legal services and hired in house lawyers. At times, I worked with young law firm lawyers who did not understand the transaction, and as the client, I had to train them and pay them to learn on my time and nickel. At other times I had the privilege of working with lawyers charging $1,200 per hour and I marveled at how quickly they came to a brillant legal and strategic solution....true elegance. The bottom line is, that like all products and services, when purchasing legal services you should get what you pay for and very often you do.
The problem is in the incentives offered by many firms. At most firms, the more hours a lawyer bills, the better. If a young lawyer is being trained, a mentor and the young lawyer may bill time into the file. For young associates, training is imperative and I willingly train young lawyers and interns. I just do not think my clients should pay my hourly rate plus the associate's hourly rate for training. Even when I need to learn new areas which expand my practice, my client should not pay for my time learning, if there are other lawyers who can perform appropriately and are already trained.
Similarly, in order to pay an associate or partner more money, since there really are a limited number of biilable hours in a year (you can laugh now), the hourly rate is increased. This of course makes sense in that the more experienced the lawyer, the greater the skill, the greater the value delivered. But this is where the model breaks down. If the rate goes up and the team of lawyers in the meeting or working on the project expands, I question whether the client receives additional value.
Flat Fee Billings Are Client Centric Instead of Law Firm Centric
When I set a fee, I do not look at the amount of time it takes to do the work, nor the person or team performing the services (I work with independent contractors rather than employees), but rather the value of the work delivered to the client. I always set a fee that the client can budget, without surprises, and I target a fee consistent with the project. It is not hard to set a fee because I know the type of work I handle and I know both what it takes to do the work right, and what it is worth to the client to have the right work delivered. I also pride myself on setting a time for completion of the work and delivering on time every time.
When a new client contacts me, I am very clear about the type of work I do. For instance, I was asked to write an appeal last week. I am not a litigator and I would not take the project. The client was dissappointed, but after 25 years with a preeminent (AV) rating from Martindale-Hubbell, I am not about to venture into unchartered territory. I gladly referred her to another attorney.
To conclude this section, my clients are happy because they do not wonder what the ultimate fee will be and they are confident that this AV lawyer is committed to delivering the highest quality work.
More to come on the questions lawyers ask..... How do I make money.
Monday, August 15, 2011
PRO Masterminds: The State of the Mortgage Foreclosure Mediation Program from the Mediator's Point of View
I had the opportunity to speak with the Masterminds group of the Pinellas Realtors' Organiztion ("PRO") this morning. I was delighted to have a lively and very engaged, larger than expected crowd. My topic was "The State of Residential Mortgage Foreclosure Mediation from the Mediator's Point of View," and I quickly learned that the professional realtors have limited knowledge of the mediation process but loads of experience in dealing with the banks on short sales. I am very sure I learned as much from them today about the realty of the short sale market as they did from me on mediation.
Some of the topics we discussed:
Some of the topics we discussed:
- The difference between arbitration and mediation
- Pre-suit v. Post Suit mediation
- The need to provide current (within 60 days) documentation --- the more thorough and complete, the more likely there will be a mediation resolution
- Short Sales, Short Sales, Short Sales
- Short sales need to be approved by the bank in order for the deficiency to be waived
- The banks expect the property to be marketed for 90 days before considering a short sale
- A licensed Realtor must be engaged to market the property and that realtor needs to work closely with the bank to ensure the necessary information is in the bank's hand when the bank considers a short sale
- Short sales, like other modifications and forgiveness programs, are designed to address hardship. Homeowners are not entitled to a short sale simply because they want to sell below mortgage amount
- Multiple liens complicate any modification or short sale and the borrower must be actively engaged in the discussion with second and more junior lien holders to facilitate a solution
Unfortunately, time was short and we did not get to discuss tenants in foreclosed properties or other opportunities for realtors and investors in this less than orderly residential real estate market.
I agreed to chat with the group again in a couple of months.
Many thanks to Linda Goldfarb of LSG Consulting Services for arranging the event this morning. She has a mastermind meeting each month. The 35+ attendees were from both sides of the bay ---- a wonderful knowledge sharing opportunity for all.
Wednesday, August 10, 2011
Florida Attorney Rochelle Friedman Walk Admitted to Martindale-Hubbell Bar Register of Preeminent Women Lawyers™
Walk is now among the less than 5% of women lawyers
that have been recognized with an AV Preeminent rating.
that have been recognized with an AV Preeminent rating.
Tampa, FLA, August 5, 2011: Rochelle Friedman Walk, an experienced, thoughtful and strategic attorney, business executive and neutral mediator licensed to practice in both Florida and Ohio, was recently selected for the inaugural edition of the Martindale-Hubbell Bar Register of Preeminent Women Lawyers™. The Register is exclusively for women attorneys who have received the highest possible rating in both legal ability and ethical standards from their peers.
For over 90 years, the Bar Register has been a unique guide to the legal community's most eminent professionals. It includes only those select law practices that have earned the highest rating in the Martindale-Hubbell Law Directory and have been designated by their colleagues as preeminent in their field. Walk is now among the less than 5% of women lawyers that have been recognized with an AV Preeminent rating.
In her more than twenty-five years of business and legal experience, Walk has served as the chief restructuring officer, chief administrative officer, chief legal officer and Business Unit Manager to several national and multi-national business organizations. As an attorney, she has represented plaintiffs and defendants in a wide range of legal transactions and disputes including complex commercial, insurance coverage, real estate, construction, financial restructuring and employment matters. She has served as an ombudsman in employment, elder care, NAACP, creditor and shareholder matters and has worked with a number of different international unions to resolve concerns.
The Flat Fee Lawyer recognizes that clients have long been frustrated by the inability of a law firm or attorney to provide a firm fee quote and agreement on legal services. Admittedly, not all legal services are suitable for a flat fee, but many, particularly basic business services, can be delivered on a flat-rate basis. We provide these legal services to our clients both virtually and through our more traditional law office. For those services that do not allow for a flat-fee billing rate, we will work with you to deliver a value-based fee solution to meet your needs at the best rate possible.
Corporate Governance Solutions offers neutral and independent third party services for your most difficult situations. The firm capitalizes on its extensive business and legal experience to provide clients with thoughtful and productive legal services. Their mediation style is to leverage their experiences in business and the courtroom to enable all parties to evaluate and assess their positions and likely outcomes. They are firm and direct and ensure integrity in the process.
Attorney Rochelle Friedman Walk admitted to The Florida Bar and U.S. District Court for the Middle District of Florida
Tampa, Fla (July 7, 2011) – Attorney Rochelle Friedman Walk, a full-time neutral mediator, arbitrator and receiver, has recently been admitted to The Florida Bar and the United States District Court for the Middle District of Florida.. Walk, was first admitted to practice in the State of Ohio twenty-five years ago is also admitted to the United States District Court for the Northern District of Ohio. She currently heads Corporate Governance Solutions, PLLC and The Flat Fee Lawyer in Tampa, Florida.
Walk is highly known for her negotiating skills and the ability to bring parties together in win-win, creative solutions. During her career, she has served as the restructuring officer, chief administrative officer, chief legal officer, and Business Unit Manager to several national and multi-national business organizations. As an attorney, she has represented plaintiffs and defendants in a wide arrange of legal transactions and disputes including complex commercial, insurance coverage, real estate, construction, financial restructuring and employment matters. She has served as an ombudsman in employment, elder care, NAACP, creditor and shareholder matters and has worked with a number of different international unions to resolve concerns. These bar admissions enhance Walk’s capability of servicing clients in Central Florida.
“One of my goals is to offer my services as a mediator in financial restructuring cases,” states Walk. “Having served as a receiver, the restructuring officer in two Chapter 11 cases, and as a member and chair of numerous creditors’ committees, I offer hands on debtor and creditor experience to the cases I mediate. My admission to the Middle District makes it possible for me to be included on the mediator panel for the Bankruptcy Court as well as the District Court.”
Walk’s practice focuses on neutral services in restructuring, business and licensing cases. A graduate of Case Western Reserve University School of Law, she has served as General Counsel to both public and private enterprises, and has represented both individuals and businesses in employment disputes. Admission to the Florida State and Middle District bars allows Walk to serve as mediator and receiver for both state and federal court appointed cases.
About Corporate Governance Solutions, PLLCCorporate Governance Solutions (CGS) offers neutral and independent third party services for your most difficult situations. CGS capitalizes on its extensive business and legal experience to provide clients with thoughtful and productive legal services. The practice offers mediation, arbitration, receivership, ombudsman and other legal services for clients large and small.
About The Flat Fee LawyerThe Flat Fee Lawyer recognizes that clients have long been frustrated by the inability of a law firm or attorney to provide a firm fee quote and agreement on legal services. Admittedly, not all legal services are suitable for a flat fee, but many, particularly basic business services, can be delivered on a flat-rate basis. We provide these legal services to our clients both virtually and through our more traditional law office. For those services that do not allow for a flat-fee billing rate, we will work with you to deliver a value-based fee solution to meet your needs at the best rate possible.
Walk is highly known for her negotiating skills and the ability to bring parties together in win-win, creative solutions. During her career, she has served as the restructuring officer, chief administrative officer, chief legal officer, and Business Unit Manager to several national and multi-national business organizations. As an attorney, she has represented plaintiffs and defendants in a wide arrange of legal transactions and disputes including complex commercial, insurance coverage, real estate, construction, financial restructuring and employment matters. She has served as an ombudsman in employment, elder care, NAACP, creditor and shareholder matters and has worked with a number of different international unions to resolve concerns. These bar admissions enhance Walk’s capability of servicing clients in Central Florida.
“One of my goals is to offer my services as a mediator in financial restructuring cases,” states Walk. “Having served as a receiver, the restructuring officer in two Chapter 11 cases, and as a member and chair of numerous creditors’ committees, I offer hands on debtor and creditor experience to the cases I mediate. My admission to the Middle District makes it possible for me to be included on the mediator panel for the Bankruptcy Court as well as the District Court.”
Walk’s practice focuses on neutral services in restructuring, business and licensing cases. A graduate of Case Western Reserve University School of Law, she has served as General Counsel to both public and private enterprises, and has represented both individuals and businesses in employment disputes. Admission to the Florida State and Middle District bars allows Walk to serve as mediator and receiver for both state and federal court appointed cases.
About Corporate Governance Solutions, PLLCCorporate Governance Solutions (CGS) offers neutral and independent third party services for your most difficult situations. CGS capitalizes on its extensive business and legal experience to provide clients with thoughtful and productive legal services. The practice offers mediation, arbitration, receivership, ombudsman and other legal services for clients large and small.
About The Flat Fee LawyerThe Flat Fee Lawyer recognizes that clients have long been frustrated by the inability of a law firm or attorney to provide a firm fee quote and agreement on legal services. Admittedly, not all legal services are suitable for a flat fee, but many, particularly basic business services, can be delivered on a flat-rate basis. We provide these legal services to our clients both virtually and through our more traditional law office. For those services that do not allow for a flat-fee billing rate, we will work with you to deliver a value-based fee solution to meet your needs at the best rate possible.
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